Bank of China Launches First Innovation R&D Base in Xiong’an New Area

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Big state-owned lender Bank of China has launched its first “Innovation R&D Base” (创新研发基地) in the Xiong’an New Area of Hebei province next to Beijing.

Wang Jiang (王江), BOC president and vice-party secretary, said that the R&D Base will “make use of fintech and data science innovation advantages to support the growth of the New Area’s digital economy and the establishment of digital governance.”

The Base will “strengthen cooperation between the two parties in public service areas including smart parks, smart healthcare and smart transportation.”

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